Employers Plan Increased Hiring and Pay in Last Half of 2017

28 Jul 2017 11:55 AM | Deleted user

July 7, 2017 — The odds of landing a new job in the last half of this year, along with getting paid more, are in job hunters' favor as employers plan to increase hiring of full- and part-time workers as well as temporary or contract workers.

More than half of employers anticipate offering higher starting salaries for new employees, according to CareerBuilder's "2017 Midyear Job Forecast." Most companies also indicated that bigger paychecks won't just be for high-skilled workers, they'll extend to entry-level workers, too. From July through December:

  • 60% of employers plan to hire full-time, permanent workers, up from 50% last year.
  • 36% of employers plan to hire part-time, permanent employees, up from 29% last year.
  • 46% of employers plan to hire temporary or contract workers, up from 32% last year.

"Employers are moving quickly to recruit candidates and they are willing to pay more across job levels," said Matt Ferguson, CEO of CareerBuilder. "They are also placing a greater emphasis on candidates having a positive experience when they apply to their firms. The current climate puts job seekers in a more advantageous position."

Looking at a subset of HR managers, 72% said they feel they have to start paying higher wages because the market has become increasingly competitive for talent. Most also said this applies to entry-level workers:

  • 24% said they have to pay more even if the entry-level worker has no college or training.
  • 17% said they have to pay more, but only if the entry-level worker has a college degree.
  • 19% said they have to pay more, but only if the entry-level worker has at least some college or training.

Among all employers (hiring managers and HR managers), 53% reported they plan to offer higher starting salaries for new employees in the next six months, a jump from 39% in the same period last year. 32% said they plan to increase starting salaries on job offers by 5% or more. 66% of employers said they plan to increase compensation for current employees before year end, and 34% anticipated an increase of 5% or more.

The national surveys, which were conducted online by Harris Poll on behalf of CareerBuilder form May 24 to June 16, 2017, included representative samples of 2,369 hiring managers and HR managers, and 3,642 full-time U.S. workers across industries and company sizes in the private sector.

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